Discussion of “Valuing the Tax Shield Under Asymmetric Taxation”

Ulrich Schäfer ()
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Ulrich Schäfer: University of Zurich

Schmalenbach Business Review, 2018, vol. 70, issue 1, No 3, 19-23

Abstract: Abstract Lutz Kruschwitz and Andreas Löffler analyze the effect of asymmetric taxation on the effective tax shield ratio of a firm. In the following note, I summarize and critically discuss their results based on a (slightly generalized) version of their model.

Keywords: Asymmetric taxation; Enterprise valuation; Debt tax shields; G31; G39; H25 (search for similar items in EconPapers)
Date: 2018
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DOI: 10.1007/s41464-017-0032-0

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